Skip to main content

Walt Disney (DIS) - Get Walt Disney Company Report CEO Bob Iger says he plans to step down at the end of 2021 at the conclusion of his current contract.

Iger made the announcement near the conclusion of an investor day presentation devoted to unveiling Disney+, the entertainment giant's new streaming service set to launch in November at $6.99 a month, CNBC reported.

Iger has been CEO of Disney since 2005, overseeing the company's acquisition of Pixar, Lucasfilm, the expansion of its theme park businesses in Asia and the recently completed deal for Fox media assets.

TheStreet Recommends

Shares of Disney fell 0.5% to 116.60 Thursday.

Disney is expected to report earnings of $1.54 a share on sales of $14.9 billion after the market closes May 8, based on a FactSet survey of 22 analysts.

In the same period a year ago, the media conglomerate posted earnings of $1.84 a share on sales of $14.5 billion.

The stock has risen 4% since the company last reported earnings on Feb. 5. 

Walt Disney is a holding in Jim Cramer's Action Alerts portfolio. Want to be alerted before Jim Cramer buys or sells DIS? Learn more now